H1 Kenhardt

Africa

Region

430.0

Commitment (MNOK)

Active

Status

H1 Kenhardt will be the largest solar and battery storage project in Africa situated in the Northern Cape in South Africa. The Kenhardt projects will have an installed solar PV capacity of 540MW and battery storage capacity of 225MW/1 140MWh. The projects will supply 150MW dispatchable power to the grid from 05:00 to 21:30 once it is operational. The project started construction in 2022 and is expected to be operational in 2023. H1 Capital is a 49% shareholder, while Norfund’s long-time partner Scatec is a 51% shareholder. Together with BII, Norfund is providing funding to a subsidiary of H1 Capital for part of their equity commitment to the projects. Norfund is also invested in H1 Capital together with BII.

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Key information

Sector:
Renewable Energy
Commitment (MNOK):
430.0
Year:
2022
Region:
Africa
Country:
South Africa
Domicile:
South Africa
Instrument:
Loans
Status:
Active
Mandate:
Climate

Additionality H1 Kenhardt

This investment is particularly additional on the following ambitions:

  • Investing in the riskiest markets
  • Investing in sectors with high development needs
  • Investing in high risk instruments
  • Mobilising private investors
  • Improving social and environmental performance

Read more about the investment:

Africa’s biggest solar- and battery facility now operational